31 Amendments of Alessandra BASSO related to 2022/0051(COD)
Amendment 308 #
Proposal for a directive
Recital 14 a (new)
Recital 14 a (new)
(14a) Regulation (EU) 2019/2088 requires financial market participants to publish, among other things, a statement on their due diligence policies with respect to the principal adverse impacts of their investment decisions. This Directive complements these requirements.
Amendment 326 #
Proposal for a directive
Recital 18
Recital 18
(18) The valuesupply chain should cover activities related to the production of a good or provision of services by a company, including the development of the product or the service and the use and disposal of the product as well as the related activities of establisheddirect business relationships of the company. It should encompass upstream established direct and indirect businessdirect relationships that design, extract, manufacture, transport, store and supply raw material, products, parts of products, or provide services to the company that are necessary to carry out the company’s activities, and also downstream relationships, including established direct and indirect business relationships, that use or receive products, parts of products or services from the company up to the end of life of the product, including inter alia the distribution of the product to retailers, the transport and storage of the product, dismantling of the product, its recycling, composting or landfilling.
Amendment 339 #
Proposal for a directive
Recital 19
Recital 19
(19) As regards regulated financial undertakings providing loan, credit, or other financial services, “valuesupply chain” with respect to the provision of such services should be limited to the activities of the clients receiving such services, and the subsidiaries thereof whose activities are linked to the contract in question. Clients that are households and natural persons not acting in a professional or business capacity, as well as small and medium sized undertakings, should not be considered to be part of the valuesupply chain. The activities of the companies or other legal entities that are included in the valuesupply chain of that client should not be covered.
Amendment 433 #
Proposal for a directive
Recital 43
Recital 43
(43) Companies should monitor the implementation and effectiveness of their due diligence measures. They should carry out periodic assessments of their own operations, those of their subsidiaries and, where related to the value chains of the company, those of their established business relationships, to monitor the effectiveness of the identification, prevention, minimisation, bringing to an end and mitigation of human rights and environmental adverse impacts. Such assessments should verify that adverse impacts are properly identified, due diligence measures are implemented and adverse impacts have actually been prevented or brought to an end. In order to ensure that such assessments are up-to- date, they should be carried out at least every 124 months and be revised in-between if there are reasonable grounds to believe that significant new risks of adverse impact could have arisen. The evaluation must not entail excessive financial burdens for SMEs, with the possibility of providing them with a verification system based on self-declarations or predetermined forms.
Amendment 607 #
Proposal for a directive
Article 2 – paragraph 2 – point a
Article 2 – paragraph 2 – point a
(a) generated a net worldwide turnover of more than EUR 150 million in the Union in thelast financial year preceding the last financial yearfor which annual financial statements have been prepared;
Amendment 617 #
Proposal for a directive
Article 2 – paragraph 2 – point b
Article 2 – paragraph 2 – point b
(b) generated a net worldwide turnover of more than EUR 40 million but not more than EUR 150 million in the Union in the financial year preceding the last financial yearin the last financial year for which annual financial statements have been prepared, provided that at least 50% of its net worldwide turnover was generated in one or more of the sectors listed in paragraph 1, point (b).
Amendment 618 #
Proposal for a directive
Article 2 – paragraph 2 a (new)
Article 2 – paragraph 2 a (new)
2a. For the access to the EU market, companies established in a third country and falling within the scope must declare and provide proof that they comply with obligations equivalent to those laid down in this Directive in the third countries where they have their seat, a subsidiary or a branch. The Commission shall be empowered to adopt measures to set up a mechanism for the determination of equivalence of the obligations required under this Directive and for the establishment of general equivalence criteria regarding due diligence standards.
Amendment 716 #
Proposal for a directive
Article 3 – paragraph 1 – point f
Article 3 – paragraph 1 – point f
(f) ‘established business relationship’ means a direct business relationship, whether direct or indirect, which is, or which is expected to be lasting, in view of its intensity or duration and which does not represent a negligible or merely ancillary part of the value chain; (This amendment - meaning the reference to "direct" business relationships only - applies throughout the text. Adopting it will necessitate corresponding changes throughout.)
Amendment 730 #
Proposal for a directive
Article 3 – paragraph 1 – point g
Article 3 – paragraph 1 – point g
(g) ‘valuesupply chain’ means activities related to the production of goods or the provision of services by a company, including the development of the product or the service and the use and disposal of the product as well as the related activities of upstream and downstream establishedirect business relationships of the company. As regards companies within the meaning of point (a)(iv), ‘valuesupply chain’ with respect to the provision of these specific services shall only include the activities of the clients receiving such loan, credit, and other financial services and of other companies belonging to the same group whose activities are linked to the contract in question. The valuesupply chain of such regulated financial undertakings does not cover SMEs receiving loan, credit, financing, insurance or reinsurance of such entities; (This amendment - meaning the reference to "supply chain" instead of "value chain" - applies throughout the text. Adopting it will necessitate corresponding changes throughout.)
Amendment 830 #
Proposal for a directive
Article 4 a (new)
Article 4 a (new)
Article 4a Member States shall ensure that parent companies have the option to fulfil the relevant obligations under this Directive, on behalf of any or all subsidiaries which meet the thresholds set forth in Article 2.
Amendment 863 #
Proposal for a directive
Article 5 – paragraph 2
Article 5 – paragraph 2
2. Member States shall ensure that the companies update their due diligence policy annuallyevery two years.
Amendment 958 #
Proposal for a directive
Article 7 – paragraph 2 – point d
Article 7 – paragraph 2 – point d
(d) provide targeted and proportionate support for an SME with which the company has an established business relationship, where compliance with the code of conduct or the prevention action plan would jeopardise the viability of the SME;
Amendment 987 #
Proposal for a directive
Article 7 – paragraph 4 – subparagraph 2
Article 7 – paragraph 4 – subparagraph 2
When contractual assurances are obtained from, or a contract is entered into, with an SME, the terms used shall be fair, reasonable and non-discriminatory. Where measures to verify compliance are carried out in relation to SMEs, the company shall bear the cost of the independent third-party verification. The company may use a verification system based on self- declarations or predetermined forms.
Amendment 1034 #
Proposal for a directive
Article 8 – paragraph 3 – point a
Article 8 – paragraph 3 – point a
(a) neutralise the adverse impact or minimise its extent, including by the payment of the ascertained damages to the affected persons and of financial compensation to the affected communities. The action shall be proportionate to the significance and scale of the ascertained adverse impact and to the contribution of the company’s conduct to the adverse impact;
Amendment 1064 #
Proposal for a directive
Article 8 – paragraph 3 – point e
Article 8 – paragraph 3 – point e
(e) provide targeted and proportionate support for an SME with which the company has an established business relationship, where compliance with the code of conduct or the corrective action plan would jeopardise the viability of the SME;
Amendment 1219 #
Proposal for a directive
Article 10 – paragraph 1
Article 10 – paragraph 1
Member States shall ensure that companies carry out periodic assessments of their own operations and measures, those of their subsidiaries and, where related to the value chains of the company, those of their established business relationships, to monitor the effectiveness of the identification, prevention, mitigation, bringing to an end and minimisation of the extent of human rights and environmental adverse impacts. Such assessments shall be based, where appropriate, on qualitative and quantitative indicators and be carried out at least every 124 months and whenever there are reasonable grounds to believe that significant new risks of the occurrence of those adverse impacts may arise. The due diligence policy shall be updated in accordance with the outcome of those assessments.
Amendment 1236 #
Proposal for a directive
Article 11 – paragraph 2
Article 11 – paragraph 2
The Commission shall adopt delegated acts in accordance with Article 28 concerning the content and criteria for such reporting under paragraph 1, specifying information on the description of due diligence, potential and actual adverse impacts and actions taken on those. The Commission shall develop simplified reporting requirements for SMEs
Amendment 1269 #
Proposal for a directive
Article 13 – paragraph 1
Article 13 – paragraph 1
In order to provide support to companies or to Member State authorities on how companies should fulfil their due diligence obligations, the Commission, in consultation with Member States and stakeholders, organisations of enterprises and representing the interests of SMEs, the European Union Agency for Fundamental Rights, the European Environment Agency, and where appropriate with international bodies having expertise in due diligence, may issue guidelines, including for specific sectors or specific adverse impacts.
Amendment 1312 #
Proposal for a directive
Article 15
Article 15
Amendment 1346 #
Proposal for a directive
Article 17 – paragraph 5
Article 17 – paragraph 5
5. Member States may designate the authorities fFor the supervision of regulated financial undertakings also as supervisory authorities for the purposes of this Directivethe competent authorities shall be an existing national authority already controlling or supervising financial institutions.
Amendment 1388 #
Proposal for a directive
Article 18 – paragraph 5 a (new)
Article 18 – paragraph 5 a (new)
5a. The national authorities supervising financial institutions shall adopt the appropriate preventive and sanctioning measures.
Amendment 1433 #
Proposal for a directive
Article 20 – paragraph 2
Article 20 – paragraph 2
2. In deciding whether to impose sanctions and, if so, in determining their nature and appropriate level, due account shall be taken of the company’s efforts to comply with any remedial action required of them by a supervisory authority, any investments made and any targeted support provided pursuant to Articles 7 and 8, as well as collaboration with other entities to address adverse impacts in its valuesupply chains, as the case may be, the severity and duration of the company's infringement and the cumulative effects of the different measures and sanctions already imposed on the company.
Amendment 1445 #
Proposal for a directive
Article 20 – paragraph 3
Article 20 – paragraph 3
3. When pecuniary sanctions are imposed, they shall be based on the company’s turnover, as well as on the imputability of the infringement, also taking into account the size of the undertaking.
Amendment 1487 #
Proposal for a directive
Article 22 – paragraph 1 – point b
Article 22 – paragraph 1 – point b
(b) as a result of this failure they caused an adverse impact that should have been identified, prevented, mitigated, brought to an end or its extent minimised through the appropriate measures laid down in Articles 7 and 8 occurred and led to damage.
Amendment 1494 #
Amendment 1508 #
Proposal for a directive
Article 22 – paragraph 2 – subparagraph 2
Article 22 – paragraph 2 – subparagraph 2
In the assessment of the existence and extent of liability under this paragraph, , due account shall be taken of the company’s efforts, insofar as they relate directly to the damage in question, to comply with any remedial action required of them by a supervisory authority, any investments made and any targeted support provided pursuant to Articles 7 and 8, as well as any collaboration with other entities to address adverse impacts in its valuesupply chains.
Amendment 1526 #
Proposal for a directive
Article 22 – paragraph 3
Article 22 – paragraph 3
3. The civil liability of a company for damages arising under this provision shall be without prejudice to the civil liability of its subsidiaries or of any direct and indirect business partners in the valuesupply chain.
Amendment 1553 #
Proposal for a directive
Article 24
Article 24
Amendment 1560 #
Proposal for a directive
Article 25
Article 25
Amendment 1570 #
Proposal for a directive
Article 26
Article 26
Amendment 1613 #
Proposal for a directive
Article 29 – paragraph 1 – point d a (new)
Article 29 – paragraph 1 – point d a (new)
(da) the impact of the Directive on SMEs, as well as the availability of adequate accompanying measures, supporting tools and guidelines.